Along with record crypto prices, greed rose to a seven-month high

Data shows that greed in the crypto market has reached a seven-month high as coins have hit new all-time highs (ATHs).

Crypto fear and greed index points to extreme greed

The Fear and Greed Index recorded a seven-month high as the needle point of extreme greed, according to the latest weekly report from Arkansas Research.

The “fear and greed index” is an index that represents the general sentiment of the crypto market on a numerical scale from 0 to 100.

When the metric value is below 50, it means there is an average fear among investors. A value less than 25 indicates extreme fear. This type of feeling is usually seen after a major correction, and can be a good buying opportunity in times of extreme fear.

Pointing the needle above 50 means the crypto market is starting to get greedy. Extreme greed occurs when the value exceeds 75. Too high a value near 100 means a correction will be made soon so investors may not buy more at this time.

Here is a meter that shows what the current market feels like:

The fear and greed index seems to be pointing at extreme greed at the moment | Source: The Arcane Research Weekly Update - Week 42

As the meter above shows, the crypto market seems extremely greedy at the moment as the value of the index stands at 76.

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Comparisons with last week’s and last month’s values ​​are also given below the meter, which were 75 (extreme greed) and 27 (fear), respectively.

The current fear and greed index values ​​give a better idea of ​​the chart below than in the past:

Crypto is an indicator of fear and greed

The values of the indicator over the last one year | Source: The Arcane Research Weekly Update - Week 42

Examining the graph above, it became clear that the fear and greed index reached the value of 84 this week, the highest in the last seven months.

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Bitcoin made this peak just a day after creating a new ATH of around $ 67k, but the price was soon revised. The chart below shows this price trend of BTC:

Bitcoin crypto price chart

BTC's price continues to go down after making a new ATH | Source: BTCUSD on TradingView

The fear and greed index also took a hit in response to this fall in bitcoin prices, but despite that, the values ​​still remain in the extreme greed category, meaning the crypto market still expects prices to be higher.

During the rally at the beginning of the year, the values ​​consistently remained in the category of extreme greed, and the corrections only caused a temporary fall in the index.

This means that if the market has to continue making new ATH, the market attitude should be greedy, otherwise the bull race may start to lose steam.

Featured image from, charts from, Arcane Research

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